FCCD.TO vs. IDIV-B.TO

Last updated Jun 4, 2026

FCCD.TO (Fidelity Canadian High Dividend Index ETF) and IDIV-B.TO (Manulife Smart International Dividend ETF Unhedged Units) are both Dividend funds. FCCD.TO is passively managed, while IDIV-B.TO is actively managed. Over the past 3 years, FCCD.TO returned 19.49%/yr vs 21.08%/yr for IDIV-B.TO. At a 0.36 correlation, their price movements are largely independent. FCCD.TO charges 0.35%/yr vs 0.55%/yr for IDIV-B.TO.

Performance

FCCD.TO vs. IDIV-B.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity Canadian High Dividend Index ETF (FCCD.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCCD.TO achieves a 14.15% return, which is significantly higher than IDIV-B.TO's 10.75% return.

FCCD.TO

• 1D: -0.07%
• 1M: 3.50%
• YTD: 14.15%
• 6M: 15.72%
• 1Y: 32.15%
• 3Y*: 19.49%
• 5Y*: 12.03%
• 10Y*: —

IDIV-B.TO

• 1D: 0.00%
• 1M: 3.35%
• YTD: 10.75%
• 6M: 8.02%
• 1Y: 25.99%
• 3Y*: 21.08%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCCD.TO vs. IDIV-B.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCCD.TO Fidelity Canadian High Dividend Index ETF	14.15%	25.05%	16.92%	3.35%	-3.96%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	10.75%	35.22%	12.85%	12.28%	7.59%

Correlation

The correlation between FCCD.TO and IDIV-B.TO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 11, 2022	0.36

The correlation between FCCD.TO and IDIV-B.TO shifts across timeframes, from 0.36 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FCCD.TO vs. IDIV-B.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCCD.TO

FCCD.TO Risk / Return Rank: 94
FCCD.TO Sharpe Ratio Rank: 95
FCCD.TO Sortino Ratio Rank: 96
FCCD.TO Omega Ratio Rank: 95
FCCD.TO Calmar Ratio Rank: 90
FCCD.TO Martin Ratio Rank: 94

IDIV-B.TO

IDIV-B.TO Risk / Return Rank: 53
IDIV-B.TO Sharpe Ratio Rank: 50
IDIV-B.TO Sortino Ratio Rank: 47
IDIV-B.TO Omega Ratio Rank: 52
IDIV-B.TO Calmar Ratio Rank: 53
IDIV-B.TO Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCCD.TO vs. IDIV-B.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Canadian High Dividend Index ETF (FCCD.TO) and Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FCCD.TO	IDIV-B.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.87	1.69	+2.18
Sortino ratio: Return per unit of downside risk	5.43	2.31	+3.12
Omega ratio: Gain probability vs. loss probability	1.74	1.32	+0.42
Calmar ratio: Return relative to maximum drawdown	5.70	2.60	+3.10
Martin ratio: Return relative to average drawdown	27.08	11.03	+16.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCCD.TO vs. IDIV-B.TO - Sharpe Ratio Comparison

The current FCCD.TO Sharpe Ratio is 3.87, which is higher than the IDIV-B.TO Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FCCD.TO and IDIV-B.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCCD.TO	IDIV-B.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.87	1.69	+2.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.59	-0.97

Drawdowns

FCCD.TO vs. IDIV-B.TO - Drawdown Comparison

The maximum FCCD.TO drawdown since its inception was -43.53%, which is greater than IDIV-B.TO's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for FCCD.TO and IDIV-B.TO.

Drawdown Indicators

	FCCD.TO	IDIV-B.TO	Difference
Max Drawdown Largest peak-to-trough decline	-43.53%	-13.62%	-29.91%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-10.03%	+4.36%
Max Drawdown (3Y) Largest decline over 3 years	-9.94%	-13.62%	+3.68%
Max Drawdown (5Y) Largest decline over 5 years	-19.24%	—	—
Current Drawdown Current decline from peak	-0.44%	-3.00%	+2.56%
Average Drawdown Average peak-to-trough decline	-6.39%	-1.72%	-4.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	2.36%	-1.17%

Volatility

FCCD.TO vs. IDIV-B.TO - Volatility Comparison

The current volatility for Fidelity Canadian High Dividend Index ETF (FCCD.TO) is 2.54%, while Manulife Smart International Dividend ETF Unhedged Units (IDIV-B.TO) has a volatility of 5.14%. This indicates that FCCD.TO experiences smaller price fluctuations and is considered to be less risky than IDIV-B.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCCD.TO	IDIV-B.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	5.14%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	6.80%	13.24%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	8.37%	15.48%	-7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.52%	14.06%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.11%	14.06%	+3.05%

FCCD.TO vs. IDIV-B.TO - Expense Ratio Comparison

FCCD.TO has a 0.35% expense ratio, which is lower than IDIV-B.TO's 0.55% expense ratio.

Dividends

FCCD.TO vs. IDIV-B.TO - Dividend Comparison

FCCD.TO's dividend yield for the trailing twelve months is around 2.97%, more than IDIV-B.TO's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FCCD.TO Fidelity Canadian High Dividend Index ETF	2.97%	3.56%	4.27%	4.65%	4.01%	3.02%	4.74%	3.80%	0.47%
IDIV-B.TO Manulife Smart International Dividend ETF Unhedged Units	2.80%	3.02%	3.49%	1.73%	0.20%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCCD.TO and IDIV-B.TO in my portfolio?

FCCD.TO and IDIV-B.TO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCCD.TO or IDIV-B.TO?

On fees, FCCD.TO is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCCD.TO or IDIV-B.TO?

FCCD.TO is cheaper with a 0.35% expense ratio, compared with 0.55% for IDIV-B.TO.

What is the main difference between FCCD.TO and IDIV-B.TO?

They also come from different issuers: Fidelity and Manulife. Their fees differ too: 0.35% for FCCD.TO and 0.55% for IDIV-B.TO.